About the rate base procurement

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The government of Nova Scotia announced on July 10 a Request for Proposals (RFP) will be issued to attract low-cost and innovative solutions to supply 10 per cent of the province’s electricity from renewables, such as wind and solar. 

This will create 4,000 jobs and reduce Nova Scotia’s greenhouse gas emissions by more than 1 million tonnes each year as the RFP seeks 350 megawatts of electricity from renewables.

“This is about doing what's right for ratepayers and keeping electricity affordable,” said former Premier Rankin. “It also ensures we mitigate risks for ratepayers and establish an energy sector that attracts business.”
 

The premier also announced an aggressive, new renewable electricity standard, requiring 80 per cent of Nova Scotia’s electricity to come from renewable resources by 2030.

This call for proposals will help the province get closer to the 80 per cent target and support the province’s goal of achieving a 53 per cent reduction in greenhouse gas emissions by 2030 and net-zero by 2050. 

The requests for proposals are being administered by Coho  (formerly CustomerFirst Renewables). Other RFPs will be issued at a future date to meet the needs of our renewable energy ambitions.

The province is in negotiations with the Canada Infrastructure Bank to collaborate on innovative and competitive financing arrangements for bidders. 

1)  Submit a Notice of Intent to Bid

• Proponents who intend to submit a Proposal are required to submit a Notice of Intent to Bid, due 20 Business Days after the RFP Date of Issuance
• The Procurement Administrator will include a non refundable fee to participate in the RFP
• Upon receipt of the Notice of Intent to Bid, the Procurement Administrator will send details to Proponents on how to submit a Proposal using a secure information sharing platform

2) Prepare & Submit a Proposal

• Suppliers will have ~60 business days to prepare a Proposal for consideration
• The RFP will outline all requirements to be eligible for participation and scoring in detail

3) PA to Evaluate Proposals

• The Procurement Administrator will select a Shortlist Portfolio and will interview Proponents 
• The Procurement Administrator will select RFP awardees based on the process outlined in the RFP

• A Request for Information was issued in March for a Procurement Administrator to manage the Rate Base Procurement and  the upcoming Nova Scotia Green Choice Program
• Renewable electricity standards are a regulatory tool used throughout the world to accelerate the use of renewable energy
• The revised standard means a 40 per cent increase over current levels of renewables used in the electricity system in Nova Scotia. The changes are authorized under the Electricity Act
• Coho Climate Advisors, an independent energy advisor based in Maryland, has more than a decade of experience conducting renewable energy procurements for institutional and corporate users and engaging stakeholders

•  Information on renewable energy in Nova Scotia: https://energy.novascotia.ca/renewables 
• Canada Infrastructure Bank: https://cib-bic.ca/en/
• NSPI Interconnection Procuedures: https://www.nspower.ca/oasis/generation-interconnection-procedures
• The Electricity Act: https://nslegislature.ca/sites/default/files/legc/statutes/electricity.pdf
• Coho: https://www.cohoclimate.com/

The information shared above is originally from a July 10th, 2021 press release viewable here: https://novascotia.ca/news/release/?id=20210710001